Global wood pellet demand could more than double in the next 10 years, growing from around 23 million tons in 2014 to 50 million tons in 2024. This is according to a new study carried out by RISI, an information provider for the global forest products industry.
“It’s a really exciting time to be looking at the wood pellet market. We’re seeing strong demand in the European heating sector as high energy prices drive consumers to look for fuel alternatives. Also, policies that promote the generation of renewable energy are spurring the use of pellets as a substitution for coal in power plants,” comment Seth Walker, author and bio-energy economist at RISI.
The Global Pellet Demand Outlook Study provides forecasts for:
- European industrial markets: Belgium, Denmark, the Netherlands, Sweden and the UK
- European heating markets: Austria, Denmark, France, Germany, Italy and Sweden
- Asian industrial markets: Korea and Japan
- North American markets: The US and Canada